Bitcoin Price Will Double by End of 2018, Says Researcher

JP Buntinx | February 18, 2018 | 10:25 am

Bitcoin Price Will Double by End of 2018, Says Researcher

JP Buntinx | February 18, 2018 | 10:25 am

Analysts all over the world remain divided on the Bitcoin price topic. This currency’s value will likely soar to $25,000 in the next twelve months, say several respected analysts.

What Comes Next for the Bitcoin Price?

Bitcoin and other similar currencies have seen a major price drop in early 2018. Most markets lost nearly 50% of their value in a matter of weeks. Many people assume this is the end for cryptocurrency as we know it. True aficionados are not too bothered by this yearly cycle. Tone Vays, a New York-based analyst and consultant, remains positive about the future Bitcoin price.

In Vays’ opinion, Bitcoin will recover sooner rather than later. He is not too sure how high the value will go when the markets start to stabilize again. Reaching six-digit figures will prove to be virtually impossible at this stage. A more “modest” Bitcoin price of $25,000 by year’s end is in Vays’ books right now. Ronnie Moas, another famous Bitcoin enthusiasts, thinks along the same lines. His prediction puts the Bitcoin price at $28,000 at some point throughout 2018.

That optimism is not shared by everyone in the industry. James Rickards, strategic director at financial analytics firm Meraglim, is extremely bearish. Having a more balanced view from both sides of the spectrum is always needed. According to Rickards, the current valuation of Bitcoin is still far too high. Given the speculative nature of this cryptocurrency, it is evident the markets can swing in either direction. Rickards added :

“I don’t know how anybody could set and justify a price target that high for this year. I think bitcoin is going to go to $200. The only residual use is for criminals, and it will keep grinding down.”

Bitcoin Futures and South Korea

Speaking of interest in Bitcoin, there are some positive signs as well. We see a growing interest in Bitcoin futures offered by CME. Their volume for February 2018 currently sits at 1,101. It is the second-highest number for this week, indicating people have high expectations for the Bitcoin price moving forward. CBOE, on the other hand, has seen a volume of 4,225. These numbers are still low, but a definite improvement compared to a few weeks ago. The five-day average volume for both companies is rising. That won’t automatically translate to a higher Bitcoin price, though.

Last but not least, things are moving along in South Korea again. After a few rough weeks, the premium price for Bitcoin is increasing. This is often the result of lower market liquidity and people being forced to pay more per BTC. Bithumb and Upbit trade Bitcoin at nearly $11,400. The Western world trades $900 to $1,000 lower as of right now. This discrepancy has been present before as well. When it happened previously, the global value per Bitcoin soared to $19,000. History may very well repeat itself in this regard.

Tags: , , ,
  • Haim

    i think the ripple will be the next coin
    it is matterof time

    • nope

      morron ripple is a token and it’s trash

    • Naaaa

      Ripple is centralized and sucks. Stay away

    • jay

      litcoins where its at

    • Ray

      Ripple is “centralized”.
      Ripple is not a cryptocurrency.
      It’s trash and sucks as a coin….
      But you know what? The same can be said for Amazon and Apple when they were selling for under $5.
      If you want to own a coin that gives the finger to the current banking infrastructure then don’t hold XRP.
      Only hold XRP if you want to make money.
      (Even if it with the help of the banks.)

  • Marvixx

    same analysts who were predicting 4k by the end of 2017?

  • Chris

    It went up 90% in under 12 days.. Yeah I suspect it might go up that extra 10% by the end of the year… idiot

  • Mark

    double from what price?

  • David Dirk Christensen

    Yeah.. double from what price? The 6k it was a couple weeks ago or the 12k it will be in a few days? Ha ha … idiots is right. I mean can you really print that headline with a straight face. Go back to your research.

  • michaelkav

    James Rickards is a bit out of touch with young people. I think James really needs to go and meet some young people (his up and coming employees, colleagues and clients). I am not sure of BitCoins future price. Of course just now it seems slightly undervalued considering the “user base and supply”. But the idea it will be $200 and used only by criminals. Oh dear. Criminals don’t use BitCoin James (it is easy to trace transactions) they use other Cryptos and eh mostly the Cash Dollar. I don’t mind people FUD’ing BitCoin (to drive price down to buy/sell I am fully aware of people and organisations rushing to do that prior to regulations) but at least learn something about it. As for doubling in value this year. I don’t think so. It is getting more stable after the recent decline. Lightning won’t increase the price it will just stabilise matters and remove high fees. That weird late 2017 hike I don’t see a repeat. Smoothing out BitCoin price is likely to happen as matters mature but $200 I nearly choked laughing at that one!

  • Roeks Griessel

    When ever a person say BTC is used by criminals and for money laundering it is a sign that that person is an idiot.

    • triplewitching

      I’ve seen several concrete examples of the US dollar being used by criminals and for money laundering. That photo of 500 million dollars found in a Mexican safe house immediately comes to mind. Didn’t see any Bitcoin there, but then again, how would you see it 😛

      • Roeks Griessel

        You are so right. Criminals use anything that suits them at the time. Fiat or crypto, exchange children for drugs, abalone for guns. The authorities should track the substance/commodity/human not the money. It is easier to trace 40 people smuggled in a barge or container, abalone in a car boot or arms in a plane than cash dollars or crypto. You only have to take 6 words out of these idiots vocabulary then they have nothing to say (criminal activity, money laundering, tax evasion) If governments start earning their tax and not demanding it things will be better. Decentralized money was design because banks and governments are in partnership with legalized crime and the only way they are going to get their share in future is to start serving the people or they will fade away.

NewsBTC is a news service that covers bitcoin news, technical analysis & forecasts for bitcoin and other altcoins. Here at NewsBTC, we are dedicated to enlightening people all around the world about bitcoin and other cryptocurrencies. We cover news related to bitcoin exchanges, bitcoin mining and price forecasts for various virtual currencies.

Get the app

Featuring live charts, price analysis, breaking news, currency converter and more. The only bitcoin app you need!